Dubai – Mubasher: Damac Properties saw a rise in its profits by 1.2% year-on-year during the fourth quarter of 2016, according to a bourse filing.
Profits reached AED 850 million ($231.38 million) in Q4-16, compared to AED 840 million ($228.66 million) in Q4-15.
In 2016, profits declined 18.2% to AED 3.69 billion from AED 4.51 billion in 2015.
Revenues amounted to AED 7.16 billion in 2016, a decline of 16.2% from AED 8.54 billion in 2015.
